Investing in Ripple

Only large-scale investors have a chance of investing in Ripple directly. The rest of us can invest in XRP, Ripple’s native currency.

A cross-border transfer via the Ripple platform requires converting fiat currency A into XRP and then purchasing the fiat currency B using those digital coins. Assuming at some point the Ripple protocol will be mass adopted, an increased number of people and institutions will prefer using XRP exclusively for global payment, the price of this coin could skyrocket transforming it into a stable currency.

However, banks are shy to adopt the Ripple protocol right now, and one of the reasons is its volatile value that can easily change overnight.

Regardless, Ripple is an excellent coin for long-term investment and if you’re interested in buying some XRP there are several ways you can do it. Also, don’t forget you’ll also need a reliable Ripple wallet to store your coins in.

How to buy Ripple

With that said, we’ll show you how to buy Ripple and everything else you need to do in just a few easy steps! And if you want to learn more about this unique blockchain network, visit our Ripple (XRP) guide.

Get a Ripple wallet

If there’s one important thing to do when getting a Ripple wallet it’s writing down the secret key and keeping it in a secure spot. You can even have that secret key stored in multiple safe locations just to make sure you can always access your Ripple wallet.

We have an extensive guide on the best Ripple wallets which will hopefully help you find the perfect one for you. Our recommendation is to use a hardware wallet like the Ledger Nano S, as that is the most secure way of storing crypto-assets, especially long-term.

Choose a Ripple exchange

These days, you can purchase Ripple using fiat currency or using Bitcoins on certain exchanges. Bittrex, Poloniex, Binance, Kraken, and BitStamp are just some of the most popular exchanges currently supporting Ripple.

Coinbase, the secure crypto-trading, and storage platform also plans to add XRP to their list of supported currencies in the near future.

Use a trading fund to invest in Ripple

eToro and other similar platforms don’t allow you to access your XRP which means you can’t send them from the platform to other people. For this reason, you won’t need a Ripple wallet if you want to use such a platform.

However, you can use fiat currency to buy and sell Ripple on eToro which is a convenient way to speculate on the price of XRP.

Buy Ripple using fiat currency

If you don’t already own Bitcoin, the easiest way to buy Ripple is using your local fiat currency via a credit or wire transfer card.

One of the most popular services you can use for this purpose is CEX.IO. This is a London-based crypto exchange and it allows you to purchase Ripple through a wire or credit card.

Bitstamp also lets you buy Ripple via a wire transfer. Once you sign up and go through their Know Your Customer procedure you can easily send USD via a bank transfer or EUR through a SEPA transfer. Then, you can trade fiat currency for XRP on Bitstamp.

Coinmama is a cryptocurrency service that allows you to buy Ripple and other digital currencies using a credit or debit card.

Last, but not least, GateHub is another trustworthy exchange that lets you use USD or EUR to buy Ripple. After you create an account and go through their KYC process you can send EUR or USD to your GateHub account.

GateHub accepts SEPA transfers and bank transfers although there’s a $15 fee for the latter option. Then you can trade your EUR or USD for XRP.

Buy Ripple with Bitcoin

Trading BTC for XRP is the cheapest way to buy Ripple. If you’re a complete beginner please check our guide on how to buy Bitcoin.

ShapeShift and Changelly are two popular services that allow you to quickly trade Bitcoin for Ripple.

Customers located in Japan can use BitBank to trade BTC for XRP, if you are located in Mexico you can use Bitso, and those located in South Korea can buy XRP from Coinone or Korbit.

Withdraw XRP to your wallet

Now that you finally bought some XRP, we wouldn’t recommend keeping the coins on the exchange you purchased them from. Storing XRP on an exchange doesn’t give you access to the private keys, which technically means you don’t actually own them.

Exchanges can also be vulnerable to attacks so the safest option is to withdraw the XRP to your Ripple wallet for which you have full control over the private keys.

Conclusion

We can expect to see more large banks and financial institutions adopting Ripple over the next few years so chances are Ripple’s value will receive a significant boost.

This, of course, makes buying XRP a promising investment but keep in mind this is not a light decision to make and you hold complete responsibility. For this reason, we suggest you thoroughly document yourself before choosing to invest in Ripple or any other cryptocurrency for that matter.